Hre's how I see it...
The AUDUSD and crude oil have bounced off Monday's dip. IMO the bounce shows how resilient the Aus economy is and how the market considers resources to be a safer bet than the USD.
Put simply, China is revving up its economy with huge infrastructure spending and the resource sector is expected to benefit.
So expect the resource boom to continue into the foreseeable future and the Aus economy to out perform all others (except china).
Now has to be a good time to be buying resource stocks.
click here for AUDUSD chart
click here for crude chart
highest volume, page-6
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Last
$121.17 |
Change
-2.510(2.03%) |
Mkt cap ! $44.98B | |||
| Open | High | Low | Value | Volume |
| $123.79 | $124.00 | $121.00 | $183.9M | 1.508M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2701 | $121.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $121.25 | 289 | 1 |
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| Last trade - 16.10pm 07/10/2024 (20 minute delay) ? |
| RIO (ASX) Chart |